FSA fines for many failures at Langtons

Exacerbating the fine was the fact it took an FSA visit to uncover the failures, rather than internal systems and controls, and the fine would have been £90,000 but for Langton’s decision to agree the penalty at an early stage and appoint a consultant to review its compliance and financial promotions procedures. Langtons has until October 5th to pay the fine. The FSA says failures took place between January 2003 to November 2005 and included: not clearly and appropriately apportioning responsibilities at senior management level; not recording roles and responsibilities of said m...